An e-commerce credit evaluation system is needed to increase customer confidence in purchase and payment.
Vietnam needs to set up an e-commerce credit evaluation system and perfect its legal framework to promote the development of Vietnam e-commerce market in 2021-25, said the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade (MoIT).
This is one of the solutions given by the iDEA in the context of Covid-19 outbreak and the explosive growth of online shopping, in which it focuses on developing e-commerce ecosystems in the next five years.
Vietnam e-commerce platforms will be ranked in terms of credibility. Photo: Khanh Huyen |
iDEA said the e-commerce credit evaluation system, or the model of Circle of Trust, will be a tool to evaluate e-commerce businesses, helping promote ERCROW online payment method, online dispute resolution (TrustON), delivery service, programs to develop e-commerce launching, and support domestic producers to expand business in the country.
The iDEA will continue researching and proposing solutions to achieve the goals set out in the master plan for national e-commerce development for the 2021-25 period, enhancing the protection of consumers' interests in e-commerce and promoting enterprises to participate in and build an e-commerce market of healthy competition and sustainable development.
According to the master plan for national e-commerce development for the 2021-25 period, the government will support and promote the widespread application of e-commerce in enterprises and communities; narrow the gap between cities and rural areas in the e-commerce development level, and build a healthy, competitive and sustainable market.
The country targets to expand the consumption market for Vietnamese goods domestically and abroad through e-commerce applications and promote cross-border transactions so as to become one of the three leading countries in Southeast Asia in terms of e-commerce market development.
This year, the department will implement its GoOnline program, which will support local businesses in the process of e-commerce application.
Vietnam’s e-commerce revenue will likely reach US$52 billion, re-accelerating to nearly a 29% compound annual growth rate, and attaining the third position in the ASEAN region by 2025, according to the e-Conomy SEA 2020” report by Google, Temasek, Bain & Company.
Other News
- Australia and Vietnam develop competitive electricity markets
- Vietnam, Thailand advance realization of “Three Connections” strategy
- Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
- Viettel opens largest data center in Vietnam to support AI development
- Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
- Apartment prices in Hanoi are closing in on those in Ho Chi Minh City
- Coffee exports reach record $5 billion
- Nearly 36,000 Vietnamese workers go abroad in Q1 2024
- New Vietnam-Laos trade agreement signed
- Vietnam’s electricity consumption set to hit record high during dry season
Trending
-
Vietnam celebrates Hung Kings Commemoration Day
-
Vietnam news in brief - April 18
-
Vietnam win first match of Asian U23 tournament
-
Colorful stage shows in Hoan Kiem Lake pedestrian area
-
It happened as it had to happen
-
Hanoi street where dead appliances come back to life
-
Vietnam’s economy urged to rely on internal strengths to weather global uncertainties: ADB
-
Vietnam, Thailand advance realization of “Three Connections” strategy
-
MICHELIN Guide sets its sights on Vietnam’s central region